Massachusetts Bankruptcy

With the slow economy and difficult job market creating financial uncertainty in the workplace, many individuals and families find themselves having to be creative in stretching their dollars to go as far as they can.

If you are among those who find themselves falling behind on your monthly payments, the best thing you can do is let your creditors know right away

Sometimes, the financial blow is so devastating that it may be extremely difficult, or impossible to recover from

If settlement is not an option for you, then it may be time to consider bankruptcy

Most people seeking to get rid of credit card debt, medical bills, utility bills and old mortgage balances leftover from foreclosures, can file a Chapter 7 bankruptcy and be debt free in about four months—with no tax consequences from getting rid of your debts.

Because Chapter 7 is over and done with relatively quickly, it is the legal equivalent of gastric bypass surgery for people who are experiencing unmanageable debt, and like any surgery, you should evaluate all your options and alternatives before you commit to the procedure.

Chapter 7 Bankruptcy

This is a type of bankruptcy where the court gives you protection from your creditors and also gives you more time to catch up on past due debts, so long as you agree to repay your creditors and can do it in monthly payments over three or five years.

This is a valuable tool for someone who wishes to stop a foreclosure of their home and who has regular income to catch up on the past due mortgage payments.

Chapter 13 bankruptcy

Either Chapter 7 or Chapter 13 can give you immediate protection from your creditors and will stop other unpleasant collection activity such as wage garnishment, vehicle repossession, foreclosure and the filing liens or attachments on your property.

Attorney Richard S. Ravosa

Ether Chapter 7 or Chapter 13 can give you immediate protection from your creditors and will stop other unpleasant collection activity such as wage garnishment, vehicle repossession, foreclosure and the filing liens or attachments on your property.

Whichever means you choose to resolve your financial problems, it is usually best to consult an experienced attorney who can advise you of what the benefits and consequences are of any given course of action.

Remember that most financial problems are temporary situations and do not let it define who you are and always remember, there is always a way to overcome debt with dignity.

Welcome to the Massachusetts Bankruptcy Center, a full service Bankruptcy Law Firm

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